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Updated almost 3 years ago on . Most recent reply
Finally stepping out of the background
Hello, my name is Jason Morton and I Have been a member for a while but have never posted. I have reached a point where its time to jump in. I have owned my primary house in Austin TX for 10 years and currently have it on the market. Now I'm rethinking if I should sell it or rent it long or short term.
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Mike Dymski
#5 Investor Mindset Contributor
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#5 Investor Mindset Contributor
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- Greenville, SC
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Mike Dymski
#5 Investor Mindset Contributor
Pro Member
#5 Investor Mindset Contributor
- Investor
- Greenville, SC
Be sure to consider the section 121 tax free gain on sale (exclusion of $250k or $500k of gains, single or married) of a primary residence. You may be better off selling your home and buying another rental in the same neighborhood to increase your tax basis and take advantage of the tax free sale.